My wife and I plan to retire in seven years and become liveaboards. Your budget article reaffirms that we just might be able to pull this off. What should we do to better prepare ourselves for this new lifestyle?

Steve

Sue and Larry respond:

Sounds like you've got the cruising bug. Now that you've got it, we must tell you that there's no known cure, so you may as well start preparing yourself for the inevitable.

If you're in your mid-50s and retiring in seven years, you probably already have an aggressive savings and investment program. If not, start now, and contribute as much as you can.

Change your spending habits today. Don't buy anything for your house. In fact, don't buy anything at all unless it will fit on your future boat. (Sue and I did this for two years prior to moving aboard Safari. You'll soon see how much stuff you used to buy that you really didn't need.)

Pay off all of your debt and start paying cash for the few things that you really need. This includes your beloved car. If it's financed, sell it now and buy something older for cash. Don't worry about what your neighbors will think. You'll have the last laugh when you cast off and leave them to work and worry for another 15 years.